Westpac Banking Corp lowered its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 35.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,394 shares of the company’s stock after selling 14,353 shares during the quarter. Westpac Banking Corp’s holdings in Charter Communications were worth $9,592,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CHTR. Cornerstone Advisors Inc. grew its holdings in Charter Communications by 4.9% during the second quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock valued at $116,000 after purchasing an additional 16 shares during the period. Parallel Advisors LLC grew its holdings in Charter Communications by 43.3% during the second quarter. Parallel Advisors LLC now owns 308 shares of the company’s stock valued at $121,000 after purchasing an additional 93 shares during the period. Huntington National Bank acquired a new position in Charter Communications during the third quarter valued at approximately $128,000. Barrett Asset Management LLC grew its holdings in Charter Communications by 118.7% during the second quarter. Barrett Asset Management LLC now owns 398 shares of the company’s stock valued at $134,000 after purchasing an additional 216 shares during the period. Finally, Bessemer Group Inc. grew its holdings in Charter Communications by 50.7% during the second quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock valued at $152,000 after purchasing an additional 151 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.77). The company had revenue of $10.46 billion for the quarter, compared to analyst estimates of $10.49 billion. Charter Communications had a return on equity of 0.91% and a net margin of 1.93%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business earned $0.69 EPS.
A number of research analysts recently issued reports on the stock. Macquarie restated a “buy” rating on shares of Charter Communications in a report on Sunday. Barclays PLC decreased their price objective on shares of Charter Communications from $354.00 to $283.00 and set an “equal weight” rating for the company in a report on Friday, October 27th. SunTrust Banks, Inc. restated a “buy” rating and set a $380.00 price objective on shares of Charter Communications in a report on Friday, October 27th. Pivotal Research restated a “buy” rating and set a $420.00 price objective (up previously from $405.00) on shares of Charter Communications in a report on Friday, October 27th. Finally, Moffett Nathanson restated a “neutral” rating on shares of Charter Communications in a report on Monday, October 16th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $379.18.
In other news, EVP Jonathan Hargis sold 10,976 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $399.00, for a total transaction of $4,379,424.00. Following the completion of the sale, the executive vice president now owns 18,025 shares of the company’s stock, valued at approximately $7,191,975. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher L. Winfrey acquired 3,100 shares of Charter Communications stock in a transaction dated Monday, October 30th. The shares were bought at an average cost of $323.61 per share, with a total value of $1,003,191.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $16,153,316.76. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.
Charter Communications Company Profile
Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.
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